DCNS is spending some €130m ($172.7m) increasing its current 11% holding in OpenHydro to 59.7% following last year’s trials of its 16-metre-diameter ring-shaped turbine off the coast of Brittany, western France.
The company is targeting annual revenue from the tidal power sector of €1bn by 2025.
DCNS chief executive Patrick Boissier says the company is “on track” with its wider ambition of doubling its overall revenue by the end of the decade from 2009 levels of €2.4bn
